Batic Investments and Logistics Co. reported a net profit after Zakat and tax of SAR 800,000 in Q1 2022, versus a net loss of SAR 3.2 million in the year-earlier period.
| Item | Q1 2021 | Q1 2022 | Change |
|---|---|---|---|
| Revenues | 123.64 | 109.66 | (11.3 %) |
| Gross Income | 9.40 | 11.61 | 23.5 % |
| Operating Income | (2.45) | (0.29) | 88.0 % |
| Net Income | (3.23) | 0.84 | 126.1 % |
| Average Shares | 584.96 | 600.00 | 2.6 % |
| EPS (Riyals) | (0.01) | 0.00 | 125.5 % |
| Item | Q4 2021 | Q1 2022 | Change |
|---|---|---|---|
| Revenues | 118.92 | 109.66 | (7.8 %) |
| Gross Income | 15.96 | 11.61 | (27.3 %) |
| Operating Income | (4.59) | (0.29) | 93.6 % |
| Net Income | (10.25) | 0.84 | 108.2 % |
| Average Shares | 584.96 | 600.00 | 2.6 % |
| EPS (Riyals) | (0.02) | 0.00 | 108.0 % |
This was driven by a 22% increase in gross profit on the significantly improved performance of the smart parking segment in Q1 2022. The company also cited a rise in the unrealized revenue from investments at fair value.
On a sequential basis, the company turned to a profit, against a net loss of SAR 10 million in Q4 2021.
Total shareholders’ equity, excluding minority interest, jumped 46.97% year-on-year (YoY) to SAR 521.499 million in Q1 2022.
Accumulated losses reached SAR 544,719, representing 0.091% of capital, as of March 31, 2022.
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